Bank of America Admits FORGERY and authorities turn a blind eye!
Our unstable economic environment is largely due to the corruption within our own stock market, and its tie to the US Treasury via the Government Sponsored Enterprises, or GSE’s like Fannie Mae, Freddie Mac, etc. The US government has no business using American taxpayer dollars as investments, but worse is the fact that the large banks which now don’t function as a traditional bank are “servicers” of the mortgages which have been bought up lock stock and barrel by the GSEs with the tax payers money. This is the reason behind civil unrest due to illegal foreclosures. Federal and State law prohibit the servicers from foreclosing on a mortgage if they are not the beneficiary of the loan, meaning they don’t own the note, but the laws do not seem to be an issue here as these illegal foreclosures are continuing and these properties are being confiscated by the servicers in spite of the fact they have already been fully reimbursed for the note by the GSE via tax dollars and the servicer no longer owns the note. Meanwhile countless families are being thrust into the street while the servicer confiscates their home paid for by the US taxpayers. It gets worse yet, the GSE takes and buys the notes, (with our taxes) and converts them into stocks through a process called securitization, which means the loan is no longer a loan but a stock under the rules of the SEC and the GSE proceeds to sell the stock on the stock marked as Residential Mortgage Backed Securities, or RMBS. This system will destroy our economy completely if it continues to go unchecked and unaccounted for.

I have challenged Bank of America (BAC) who has claimed to be the beneficiary of my note at the county recorder’s office, but has admitted that they don’t own my note. Even with this letter from the office of CEO and President of BAC the judge has ruled in BAC’s favor in my Pro Se case. Even when BAC admits they are not the owner of the note the authorities are still overlooking their criminal acts. If I were to claim myself as beneficiary of your loan while admitting I don’t own it and produce a copy of your note as if I owned it, I would be thrown into jail for up to 10 years. This is exactly what Bank of America is doing.
Thanks for listening,
Sam
Should a bank be allowed to foreclose if they don’t own the NOTE?
NO because:
1. Federal and State law requires the foreclosure to be the note owner, but this isn’t stopping illegal foreclosures.
2. Beneficiary means owner of the note, most banks do not own the note at all but still claim to be the beneficiary.
3. When a note is converted into a stock it is no longer a loan and is under the authority of the SEC not the FDIC.
4. Most mortgage notes have been converted into stocks and sold on the stock market as RMBS.
5. Your servicer most likely 95%+ does not own your note.